Mortgage Calculator
Estimate a full monthly mortgage payment including principal, interest, property tax, home insurance and HOA fees, plus the total interest paid over the life of the loan.
The formula
M = P·i·(1+i)^n / ((1+i)^n − 1), where P is the loan amount, i the monthly rate and n the number of payments.
Every result on this page comes from this formula. Nothing is rounded until the final display, so figures match a spreadsheet to the cent.
How to use the Mortgage Calculator
- Enter the home price and the cash you plan to put down.
- Add the annual interest rate your lender quoted and the term in years.
- Add yearly property tax, insurance and any monthly HOA dues.
- Read the monthly payment, then open the amortization schedule to see how the split between interest and principal changes over time.
Mortgage Calculator — frequently asked questions
What is included in a monthly mortgage payment?
A typical payment has four parts, often called PITI: principal, interest, property taxes and homeowners insurance. If you put down less than 20% you will usually also pay private mortgage insurance, and a condo or planned community adds HOA dues.
How much house can I afford?
A common guideline is that housing costs stay under 28% of gross monthly income and total debt payments under 36%. Run the numbers with your own income in the house affordability calculator before you shop.
Does a bigger down payment lower the monthly payment?
Yes. Every extra dollar down reduces the financed balance, so both the payment and the lifetime interest drop. Reaching 20% down also removes private mortgage insurance on a conventional loan.
Is this mortgage calculator free to use?
Yes. Every calculator on the site is free, needs no sign-up, and runs entirely in your browser, so your figures never leave your device.
How accurate is the result?
The maths is exact for the formula shown on the page. Accuracy in the real world depends on your inputs and on assumptions the formula cannot see, so treat the output as a well-grounded estimate rather than a quote.
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About this calculator
Written and reviewed by The Samsung Calculator editorial team. Every calculator is written against a published formula, reviewed against at least one independent reference implementation, and dated when it changes.
Last reviewed August 13, 2026 · Calculation runs client-side · No data collected · Report an error